TORONTO, Nov. 3, 2015 /CNW/ - Corus Entertainment Inc. (the "Company") has been advised that JR Shaw and members of his family and corporations and trusts which they collectively own or control (collectively, the "Shaw Family Group") have completed an internal reorganization of their holdings of Class A Voting Participating Shares and Class B Non-Voting Participating Shares of the Company (the "Reorganization") as part of ongoing estate planning for JR Shaw and his family.
According to information provided to the Company, both before and after completion of the Reorganization, the Shaw Family Group beneficially owned, and continues to own, 2,906,496 Class A Voting Participating Shares and 5,651,417 Class B Non-Voting Participating Shares of the Company, and accordingly the Reorganization does not affect the Company.
The Reorganization involves consolidating indirect beneficial ownership of the Class A Voting Participating Shares of the Company in the Shaw Family Living Trust ("SFLT"), a trust established as part of the Reorganization for the benefit of descendants of JR and Carol Shaw. The sole trustee of SFLT is a private Alberta corporation owned and controlled by JR Shaw and, accordingly, JR Shaw retains control of the Company.
Approval of the Reorganization was obtained from the Canadian Radio-Television and Telecommunications Commission (CRTC).
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based integrated media and content company that creates, broadcasts, licenses and delivers content across a variety of platforms for audiences around the world. The company's portfolio of multimedia offerings encompasses specialty television and radio with additional assets in pay television, television broadcasting, children's book publishing, children's animation, animation software, and technology and media services. Corus' 30 television brands include ABC Spark, Cartoon Network (Canada), CMT (Canada), Disney Channel (Canada), HBO Canada, Movie Central, Nickelodeon (Canada), OWN: Oprah Winfrey Network (Canada), Telelatino, TELETOON, Treehouse, W Network, YTV, Historia, La chaîne Disney, Séries+ and TÉLÉTOON. Its 39 radio brands include CKNW AM 980, Rock 101, Country 105, 630 CHED, Fresh Radio, JUMP! 106.9, Q107 and 102.1 the Edge. The company also owns Nelvana, an internationally renowned animation production company, Kids Can Press, Toon Boom and Quay Media Services. A publicly traded company, Corus is listed on the Toronto Stock Exchange (CJR.B). Experience Corus on the web at www.corusent.com.
SOURCE Corus Entertainment Inc.
For further information: Tom Peddie, Executive Vice President and Chief Financial Officer, Corus Entertainment Inc., 416.479.6080